PLEASE ANSWER A AND B UNDER THE HEADING "REQUIRED"

P6-8 (Worksheets, Operating Statement) Waynesville had the following General Fund trial balance on January 1, 20X1, after the reversing entry for the 20X0 encumbrances closing entry was made: The following information summarizes the transactions of the General Fund during 20X1: 1. The city council approved the following budget for 20X1 : 2. The council levied property taxes of $75,000. It was estimated that $2,000 of the taxes would never be collected. 3. Cash collected during the year may be summarized as follows: The preceding invoices completed all orders except one, dated June 1,20X1, for an attachment for a Streets and Roads road grader for $950. 8. Payments to other funds: 9. Analysis of collections revealed that taxpayer A, to whom the city owed $1,000 on January 1 , 20X1, for overpayment of taxes, had paid his tax for 20X1 minus $1,000. 10. The Streets and Roads Department rendered services in the amount of $250 to the Water Fund. 11. The city council made an additional appropriation in the amount of $5,000 (including $600 interest) for a long-term note maturity that was overlooked in preparing the budget. 12. The note matured and was vouchered (see item 11). 13. Vouchers of $70,000 were paid. 14. Delinquent taxes of $500 were written off on the authority of the council. 15. Current taxes became delinquent, and the allowance for uncollectible delinquent taxes was reduced by $2,400. a. Prepare a worksheet or worksheets summarizing the year's operations in such a way that the General Ledger closing entries and required statements may be easily prepared. b. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund of Waynesville for the year ended December 31, 20X1. P6-8 (Worksheets, Operating Statement) Waynesville had the following General Fund trial balance on January 1, 20X1, after the reversing entry for the 20X0 encumbrances closing entry was made: The following information summarizes the transactions of the General Fund during 20X1: 1. The city council approved the following budget for 20X1 : 2. The council levied property taxes of $75,000. It was estimated that $2,000 of the taxes would never be collected. 3. Cash collected during the year may be summarized as follows: The preceding invoices completed all orders except one, dated June 1,20X1, for an attachment for a Streets and Roads road grader for $950. 8. Payments to other funds: 9. Analysis of collections revealed that taxpayer A, to whom the city owed $1,000 on January 1 , 20X1, for overpayment of taxes, had paid his tax for 20X1 minus $1,000. 10. The Streets and Roads Department rendered services in the amount of $250 to the Water Fund. 11. The city council made an additional appropriation in the amount of $5,000 (including $600 interest) for a long-term note maturity that was overlooked in preparing the budget. 12. The note matured and was vouchered (see item 11). 13. Vouchers of $70,000 were paid. 14. Delinquent taxes of $500 were written off on the authority of the council. 15. Current taxes became delinquent, and the allowance for uncollectible delinquent taxes was reduced by $2,400. a. Prepare a worksheet or worksheets summarizing the year's operations in such a way that the General Ledger closing entries and required statements may be easily prepared. b. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund of Waynesville for the year ended December 31, 20X1